California Government Code

§ 20825.1

GOV § 20825.1 Effective Jun 29, 2020Div. 5 · Title 2 · Part 3 · Ch. 9

Statute text

(a)(1) In addition to the appropriation required pursuant to Section 20814, the Legislature hereby appropriates two billion five hundred million dollars ($2,500,000,000) from the General Fund for the 2018–19 fiscal year to be transferred to the Public Employees’ Retirement Fund, consistent with the requirements of this section and at the direction of the Department of Finance. The Department of Finance shall provide the Controller a schedule establishing the timing of specific transfers to be used for these purposes.

(2)The supplemental payment to the Public Employees’ Retirement Fund described in paragraph (1) shall be apportioned to the following state employee member categories, as directed by the Department of Finance, not to exceed the following amounts:

(A)Eight hundred forty-eight million fifty-seven thousand dollars ($848,057,000) to the state miscellaneous member category.

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Legislative history

Amended by Stats. 2020, Ch. 16, Sec. 6. (AB 84) Effective June 29, 2020.